BEST BUY: USING CUSTOMER CENTRICITY TO CONNECT WITH CUSTOMERS
The video will review how Best Buy understands consumer behaviour. Please answer the following questions once you have watched the video and read the case:
1. How has an understanding of consumer behaviour helped Best Buy grow from a small specialty audio retailer to the world’s largest consumer electronics retailer?
Answer: 1: An understanding of consumer behavior helped Best Buy grow from a small specialty audio retailer to the world’s largest consumer electronics retailer by “trying to keep our ear to the railroad tracks” which means they listen to the customer to be able to change on a dime when a customer wants us to tailor that experience a certain way and provide certain shopping experiences and certain services.
2. What were the advantages and disadvantages of using “customer centricity” to create five segments of Best Buy customers?
Answer 2: The advantages and disadvantages of using “customer centricity” to create five segments of Best buy customers helped best buy test product offerings, store designs, and service offerings which were then expanded to a larger number of pilot stores that would undergo changes but the cost of applying this was often as much as $600,000.
3. How are men and women different in their consumer behaviour when they are shopping in a Best Buy store?
Answer: Men and women are different in their consumer behavior when shopping in a Best Buy store because men typically love technology and like to play with it while women are looking for people who can answer their questions in a simple manner.
4. What are two or three (a) objective evaluative criteria and (b) subjective evaluative criteria female consumers use when shopping for electronics at Best Buy?
Answer: Some objective evaluative criteria and subjective evaluative criteria females use with shopping for electronics at best buy are looking for a